Dublin, Nov. 02, 2022 (GLOBE NEWSWIRE) — The “Frozen Fish and Seafood Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.
The frozen fish and seafood market is expected to grow at a compound annual growth rate of 6.28% over the forecast period to reach a market size of US$96.771 billion in 2027 from US$63.181 billion. US dollars in 2020.
Frozen fish and seafood are kept and stored in vacuum-tight compartments and at freezing temperatures to minimize the growth of unwanted microbes and ensure delivery of fresh, quality produce to the end user.
With the transition to hygienic and safe food preferences, customers are moving towards safe and certified quality frozen foods. According to the United States Department of Agriculture (USDA), fish and seafood meat is preferred over chicken and red meat (mutton/beef/pork/lamb) for relatively high levels of protein, omega -3, fatty acids and vitamins D and B. -12.
Moreover, frozen fish and seafood is better than the fresh form because the process of freezing fish and seafood meat in the modern industry is initiated to remain in its natural form so that the freshness is intact and does not allow time for bacterial growth. Also, wastage can be minimized to a great extent through quick checks along the supply chain with easy handling, making it less prone to seasonal changes.
Convenience for busy, high-income groups leads retail demand for frozen meat
Given the demographics and behavior of working-class populations, certain preparatory time constraints and an irregular presence at home lead them to favor ready-to-serve or on-the-go dishes. The frozen fish and seafood market can cater to this segment by launching bake or fry meat categories according to consumer preferences, which can be economical in terms of money, time and effort. The increase in the global population towards urban and developed areas with an increase in disposable income is increasing the reliance on instant or take-out food categories.
The trend of such consumer behavior seems to be on the rise, and considering the frozen seafood market, it can be argued that there would be steady demand due to its inelastic nature.
Companies such as McCain’s Foods and its diverse product profile in both the vegetarian and non-vegetarian realms can serve as examples of meeting the demand for the food product without compromising convenience.
Shortage of storage space in residences
According to data provided by the World Bank, families are shrinking and now prefer to reside in small apartments that require space for necessities to save on property maintenance. This can lead to the demand for consumer products that can be accommodated in less space without hampering functionality or objectivity. If applied to the frozen fish and seafood market, it is necessary to have small portion or customized packaging with a service period of up to 2 days, because consumers might not want to pile up .
The need for remote site connectivity and the development of customer-centric strategies is a challenge for the industry
With the global integration and wide reach of technology, the customer base has expanded from cities and concentrated areas to remote and remote residential areas such as counties or suburbs. To cater to such globally dispersed target audiences requires an effective and efficient supply chain. In the context of the frozen fish and seafood market, any technical mishap can cause the cold storage to collapse, which can lead to massive product wastage.
Apart from the technical challenges mentioned above, the delivery process should be minimal and should adhere to ergonomics to ensure that the process is customer friendly. Advances in the retail of cold food markets for longer shelf life of produce, increased demand for ready-to-cook foods, increased labor force, and preference for healthy eating habits and hygienic globally are expected to augment the growth of frozen fish and seafood during the forecast period.
By product type
- On line
Per end user
- Hotels and restaurants
- North America
- United States
- South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
Main topics covered:
2. Research methodology
3. Executive Summary
4. Market dynamics
5. Frozen Fish and Seafood Market Analysis, By Product Type
6. Frozen Fish and Seafood Market Analysis, By Distribution Channel
7. Frozen Fish and Seafood Market Analysis, By End User
8. Frozen Fish and Seafood Market Analysis, By Geography
9. Competitive environment and analysis
10. Company Profiles
- Maruha Nichiro
- Thai Union Group
- Mowi (sea harvest)
- Trident Seafood
- High Liner Foods
- Leroy Seafood Group
- Labeyrie Fine Foods
- Stolt Marine Farm
- Surapon Foods
- group of acorns
For more information on this report, visit https://www.researchandmarkets.com/r/jvjn0s